DGAP-News: EQT Partners AB: EQT V and ATP to sell KMD to Advent International
(firmenpresse) - DGAP-News: EQT Partners AB / Key word(s): Disposal/Private Equity
EQT Partners AB: EQT V and ATP to sell KMD to Advent International
15.10.2012 / 14:15
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EQT V and ATP to sell KMD to Advent International
- EQT V has agreed to sell KMD to Advent International after a successful
3½year ownership period
- KMD has gone through a very positive development during EQT V's
ownership, with increased revenue, earnings and employee headcount
- KMD has made a successful transformation and is now well prepared for
further growth
EQT V and ATP Private Equity Partners/Via Venture Partners have signed an
agreement with Advent International for the sale of 100% of the shares in
KMD Equity Holding A/S ('KMD' or the 'Company'). The parties have agreed
not to disclose the transaction value.
Since being acquired in early 2009, KMD has successfully completed an
extensive transition from public to private sector ownership. The Company
has implemented a wide range of improvements and efficiency enhancements of
its internal systems and processes, while also developing a number of new
software solutions. KMD is today a professionally run and competitive
business with exciting growth potential. In 2011, the Company reported
revenue of DKK 4,266 million and EBITDA of DKK 577 million.
KMD is Denmark's largest provider of software and IT-services. KMD
generates the majority of its revenue from Danish municipal authorities.
Services include among others software solutions to handle social and
pension benefits. In addition, the Company is a provider of IT-solutions to
the central government as well as the private sector. In recent years, KMD
has also built a platform for further growth in the Swedish market.
During the past 3½years, KMD has invested more than DKK 2 billion in
developing new software solutions for the Danish public sector, which -
together with selective acquisitions - has emphasized its position as the
leading provider of IT-solutions to the Danish public sector.
'KMD has undergone a very positive transformation with EQT V as owner.
Revenue has grown, the organization has been strengthened and its processes
have become more efficient. KMD's products and services have been adjusted
to customer preferences and the competitive environment today. The
management team and its staff have done a remarkable job, and KMD has
emerged into a much stronger company,' says Morten Hummelmose, Partner at
EQT Partners A/S, Investment Advisor to EQT V.
Despite budgetary pressure and the general economic downturn, KMD has
managed to generate steady growth during a challenging macroeconomic
period. Digitalization - and KMD's software solutions in particular - is an
essential part of enhancing efficiency in Denmark's public sector. KMD's
latest products within education and healthcare represent substantial
investments in areas that will constitute major parts of the future public
sector budgets.
'Denmark is without doubt ahead of virtually all other countries in terms
of digitizing its public sector. KMD has a leading market position and
unique domain knowledge and competences. We see great opportunities to
develop and grow the business even further in Denmark, but also
internationally,' says KMD's CEO Lars Monrad-Gylling, and continues: 'We
have been very pleased with our partnership with the current owners, and we
are now looking forward to continuing the journey with Advent
International.'
The transaction is subject to customary closing conditions.
EQT V was advised by Morgan Stanley, Nordea and Gorrisen Federspiel.
Contacts:
Morten Hummelmose, Partner, EQT Partners, +45 33 12 12 36
Johan Hähnel, EQT V Spokesperson, +46 8 506 55 334
Lars Monrad-Gylling, CEO, KMD, +45 25 29 17 84
About EQT
EQT is the leading private equity group in Northern Europe with over EUR 19
billion in raised capital and multiple investment strategies. Together with
an extensive network of independent Industrial Advisors, EQT implements its
investment strategy by acquiring or financing good medium-sized to large
companies in Northern and Eastern Europe, Asia and the United States,
supporting their development into leading companies. Development is
achieved by an industrial strategy with focus on growth. Since inception,
EQT has invested more than EUR 11 billion in around 100 companies and
exited close to 50. EQT-owned companies have more than 550,000 employees.
EQT Partners, acting as investment advisor to the managers of each EQT
fund, has around 120 investment professionals with extensive industrial and
financial competences. EQT Partners and its affiliates have offices in
Copenhagen, Frankfurt, Helsinki, Hong Kong, Oslo, London, Munich, New York,
Shanghai, Singapore, Stockholm, Warsaw and Zurich.
For further information: www.eqt.dk
About KMD
Headquartered in Copenhagen, Denmark, KMD was founded in 1972 and today
employs around 3,400 employees in the group. KMD is Denmark's largest
IT-company. The company develops, operates and maintains IT-systems for
local, regional and central governments as well as for private businesses.
The company's market position is closely correlated with development of
software solutions; some 75% of KMD's annual revenue of around DKK 4.3
billion derives from software development, either through software products
sold to customers or bespoke software projects developed for individual
customers.
For further information: www.kmd.dk
End of financial news
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188797 15.10.2012
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